Philippine Project Expansion Finally Gets Government Go-Ahead
The share price of RTG Mining Inc. (TSX:RTG, ASX:RTG) jumped 117% on ASX trade after reports that Mt Labo Exploration and Development Corporation, which holds the high grade Mabilo Project in the Philippines, has received Government development approval/
The Philippine Mines and Geosciences Bureau (MGB) has now approved the expansion of the current Mineral Production Sharing Agreement No. MLC-MRD-459 for the Nalesbitan Project to include the Mabilo Project, being the subject of an approved Declared Mine Feasibility Study and Environmental Clearance Certificate.
Mt Labo has been working closely over an extended period with the MGB to secure this important milestone for the project and is deeply appreciative of the considerable effort and support provided by the MGB.
RTG is currently focused primarily on progressing the Mabilo Project to start-up with permitting well advanced, to move quickly and safely to a producing gold company.
RTG has an experienced management team which has to date developed seven mines in five different countries, including being responsible for the development of the Masbate Gold Mine in the Philippines through CGA Mining Limited.